per game in the 2018 season are as follows: verage attendance figures.) actual con my in the Budgeted contribution margin information e for each hen compu Selling price Downtown Arena fee Reservation Network fee Contribution margin per ticket Lower-Tier Tickets Upper-Tier Tickets $ 34 16 10 3 $ 21 10 Print Done - X - al attenda ance as fa gin information.) game in the 2018 season are as follows: age attendance figures.) al contribution r in the past six n Average attendance figures Budgeted Seats Sold Actual Seats Sold Lower-tier 5,500 3,600 or each type of tic compute the sal 7,000 6,400 Upper-tier 12,500 10,000 Total that actual - x on margins.) each variand Print Done k Required 1. Compute the sales-volume variance for each type of ticket and in total for the Panthers in 2018. (Calculate all variances in terms of contribution margins.) 2. Compute the sales-quantity and sales-mix variances for each type of ticket and in total in 2018. 3. Present a summary of the variances in requirements 1 and 2. Comment on the results. Print Done The Panthers play in the North American Ice Hockey League The Panthers play in the Downtown Arena (owned and managed by the City of Downtown), which has a capacity of 17.500 seats (6,500 lower tier seats and 11.0 pper-tier seats). The Downtown Arena charges the Panthers a per-ticket charge for use of the facility. All tickets are sold by the Reservation Network, which charges the Panthers a reservation fee per Sicket The Panthers budgeted contibution margin for each type of ticket in 2018 is computed as follows (Click the icon to view the budgeted contribution margin information) The budgeted and actual average attendance figures per game in the 2018 season are as follows (Click the icon to view the budgeted and actual average attendance figures) There was no difference between the budgeted and actual contribution margin for lower tier or upper tier seats. The manager of the Panthers was depressed that actual attendance was 20% below budgeted attendance per ga especially given the booming state of the local economy in the past six months Requirement 1. Compute the sales-volume variance for each type of ticket and in total for the Panthers in 2018 (Calculate all variances in terms of contribution margine) Determine the formula for sales-volume variance. Then compute the sales-volume variance for each type of ticket and in total for the Panthers in 2018 Label each variance as favourable (F) or unfavourable (U)